 Prime Minister Narendra Modi urged CEOs of US majors to take advantage of India’s growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the world’s fifth largest economy after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest-growing large economy in the world with a GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India’s growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country’s economic and technological growth, he said. Assuring the business leaders of India’s deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a “global hub of semiconductor manufacturing”. The meeting took place at the Lotte New York Palace Hotel on Sunday during the second leg of Modi’s three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. “Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India,” Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organized by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India’s BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India’s policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India’s growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. “Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India’s growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors,” the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec’s plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the Indian diaspora at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders’ Summit hosted by President Joe Biden in Wilmington, Delaware. [ad_2]){kind=link}
Modi urges world tech CEOs to be a part of India’s development story New York, Sep 23 (PTI) Prime Minister Narendra Modi urged CEOs of US majors to make the most of India’s development story because the nation is making all efforts to develop into the third largest financial system of the world in his third time period.
India is at present the world’s fifth largest financial system after the US, China, Germany and Japan with a GDP of round USD 3.9 trillion. India has been the fastest-growing giant financial system on the planet with a GDP development charge of over 7 per cent for the final three consecutive years. Addressing CEOs of enormous US tech corporations on Sunday, Modi stated India will make each effort to develop into the third largest financial system on the planet in his third time period (2024-29).
Corporations ought to make the most of India’s development story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the alternatives from the nation’s financial and technological development, he stated.
Assuring the enterprise leaders of India’s deep dedication to the safety of mental property and to fostering tech innovation, Modi highlighted the financial transformation occurring within the nation, notably in electronics and data know-how manufacturing and semiconductors.
Modi asserted that his authorities was dedicated to creating India a “world hub of semiconductor manufacturing”.
The assembly happened on the Lotte New York Palace Lodge on Sunday through the second leg of Modi’s three-day US go to. It noticed the participation of CEOs of 15 main US-based corporations engaged on cutting-edge applied sciences comparable to AI, quantum computing and semiconductors.
“Had a fruitful roundtable with tech CEOs in New York, discussing points referring to know-how, innovation and extra. Additionally highlighted the strides made by India on this discipline. I’m glad to see immense optimism in the direction of India,” Modi stated in a put up on X.
Through the convention, Modi stated know-how collaboration and efforts such because the Initiative on Important and Rising Applied sciences (ICET) lie on the core of the India-US Complete International Strategic Partnership, in accordance with a Ministry of Exterior Affairs press launch.
Organized by the Massachusetts Institute of Know-how (MIT) Faculty of Engineering, the CEOs of prime US tech corporations, together with Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Candy and NVIDIA CEO Jensen Huang attended the assembly.
Others who participated within the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi additionally talked about India’s BIO E3 (biotechnology for surroundings, financial system and employment) coverage to develop the nation right into a biotech powerhouse and on the subject of AI, famous that India’s coverage is to advertise AI for all, underpinned by its moral and accountable use.
The CEOs appreciated India’s rising prominence as a world know-how hub, pushed by its innovation-friendly insurance policies and flourishing market alternatives. In addition they expressed sturdy curiosity in investing and collaborating with India, agreeing that investing in startups could be a synergistic alternative to innovate and develop newer applied sciences within the nation.
Others who attended the convention included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Firm CEO David A. Ricks, LAM Analysis CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter.
“Additional cementing know-how and enterprise join. PM @narendramodi interacted with the highest tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Know-how Faculty of Engineering, in New York as we speak. PM emphasised India’s development prospects and mentioned initiatives to foster collaborations and innovation throughout numerous sectors,” the official account of the MEA stated in a put up on X.
The prime minister had a separate assembly with Krishna P Singh, CEO of Holtec Worldwide, which is into nuclear and solar energy era. They mentioned Holtec’s plan for increasing manufacturing in India and advancing vitality cooperation, PMO India stated in a put up on X.
Earlier on Sunday, Modi addressed the Indian diaspora on the packed Nassau Veterans Coliseum on Lengthy Island in New York. He additionally held bilateral conferences with world leaders on the sidelines of the UN Basic Meeting session right here.
Modi reached New York on Saturday after attending the Quad Leaders’ Summit hosted by President Joe Biden in Wilmington, Delaware.